MANILA, Dec. 4 (Xinhua) -- The Asian Development Bank (ADB) Wednesday said it has signed a 20-million-U.S. dollar loan agreement with a member of the Meghna Group of Industries (MGI) to build an energy-efficient flour milling plant in Bangladesh.
The ADB said the new facility will double the MGI's wheat flour output and enable the production of quality wheat products, while consuming 37 percent less electricity than existing plants.
The improved energy efficiency is expected to lower operational costs and reduce carbon dioxide emissions by approximately 8,200 tons annually. The plant will produce 660,000 metric tons of wheat, contributing to domestic agriculture production and enhancing food security, the Manila-based bank said.
"By promoting energy-efficient technologies and improving product quality, the ADB and the MGI are directly contributing to the country's food security, food safety, economic resilience, and environmental sustainability," said ADB Director General for Private Sector Operations Suzanne Gaboury.
Established in 1976, the MGI is one of Bangladesh's leading and most diversified conglomerates, with interests spanning fast-moving consumer goods, building materials, chemicals, energy, packaging, and logistics. ■